William Hill shares rise as financier turns down merger strategy
Shares in William Hill have risen after the betting company's largest shareholder stated it would oppose any merger handle Canada's Amaya.
Last weekend William Hill stated it was in speak to combine with Amaya, which owns poker sites Full Tilt and PokerStars, in a potential ₤ 4.5 bn bet9ja's welcome offer.
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But Parvus Asset Management said the merger had "restricted strategic reasoning" and would "damage investor worth".
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Shares in William Hill - a FTSE 250 member - closed up 5% at 314.1 p.
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Parvus stated the betting firm must think about other all options to maximise investor returns, a possible sale.
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Ralph Topping, who stepped down in 2014 after eight years as president of William Hill, stated he "totally supported" Parvus.
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"When this promotion code bet9ja's welcome offer was revealed I was left scratching my head," he told the Financial Times, external. Both [Amaya and William Hill] have a lot to figure out in their own service. I'm very anxious on the future of William Hill."
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Also on the FTSE 250, shares in Man Group leapt 13.7% after the world's most significant listed hedge fund said it was buying investment manager Aalto, which handles property possessions worth $1.7 bn.
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Man Group likewise reported a 6% increase in the worth of funds under management throughout the 3 months to September and said it planned a $100m share buyback.
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The blue-chip FTSE 100 index increased 35.81 points to 7,013.55. Tesco was the greatest riser, up 4.41% to 203.7 p. The grocery store stated on Thursday night that it had actually fixed its rates row with supplier Unilever. Shares in Unilever were down 0.5%.
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On the yohaig code currency markets, the pound was trading at $1.2185, down 0.56%, against the dollar.
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Against the euro it was flat at EUR1.1083.
William Hill in ₤ 4.5 bn merger talks
9 October 2016
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William Hill Shares Rise As Investor Rejects Merger Plan
venusboser2501 edited this page 2025-10-20 09:26:34 +02:00